unbekannter Gast

Bahrain: Economy#

Bahrain has made great efforts to diversify its economy; its highly developed communication and transport facilities make Bahrain home to numerous multinational firms with business in the Gulf. As part of its diversification plans, Bahrain implemented a Free Trade Agreement (FTA) with the US in August 2006, the first FTA between the US and a Gulf state. Bahrain's economy, however, continues to depend heavily on oil. In 2012, petroleum production and refining accounted for 77% of Bahrain's export receipts, 87% of government revenues, and 19% of GDP. Other major economic activities are production of aluminum - Bahrain's second biggest export after oil - finance, and construction. Bahrain competes with Malaysia as a worldwide center for Islamic banking and continues to seek new natural gas supplies as feedstock to support its expanding petrochemical and aluminum industries. In 2011 Bahrain experienced economic setbacks as a result of domestic unrest, however, the economy recovered in 2012-13, partly as a result of improved tourism. Some economic policies aimed at restoring confidence in Bahrain's economy, such as the suspension of an expatriate labor tax and frequent bailouts of Gulf Air, will make Bahrain's long-term economic challenges - youth unemployment and the growth of government debt - more difficult to address.

Economic Facts#

GDP (purchasing power parity)$34.96 billion (2013 est.)
$33.48 billion (2012 est.)
$31.95 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate4.4% (2013 est.)
4.8% (2012 est.)
2.1% (2011 est.)
GDP - per capita (PPP)$29,800 (2013 est.)
$29,100 (2012 est.)
$28,300 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 0.3%
industry: 46.7%
services: 53% (2013 est.)
Population below poverty lineNA%
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Labor force - by occupationagriculture: 1%
industry: 79%
services: 20% (1997 est.)
Exports - commoditiespetroleum and petroleum products, aluminum, textiles
Exports - partnersSaudi Arabia 3.3%, India 2.2%, UAE 2.2%, South Korea 2% (2012)
Agriculture - productsfruit, vegetables; poultry, dairy products; shrimp, fish
Budgetrevenues: $8.143 billion
expenditures: $9.232 billion (2013 est.)
Imports - commoditiescrude oil, machinery, chemicals
Imports - partnersSaudi Arabia 27.4%, US 9.6%, China 9.5%, Japan 6.4%, India 4.9%, France 4.7% (2012)
Exchange ratesBahraini dinars (BHD) per US dollar -
0.376 (2013 est.)
0.376 (2012 est.)
0.376 (2010 est.)
0.376 (2009)
0.376 (2008)
Exports$20.69 billion (2013 est.)
$20.39 billion (2012 est.)
Debt - external$28.82 billion (31 December 2013 est.)
$27.54 billion (31 December 2012 est.)
Fiscal yearcalendar year
Imports$14.41 billion (2013 est.)
$13.24 billion (2012 est.)
Industrial production growth rate4.7% (2013 est.)
Industriespetroleum processing and refining, aluminum smelting, iron pelletization, fertilizers, Islamic and offshore banking, insurance, ship repairing, tourism
Inflation rate (consumer prices)3.1% (2013 est.)
2.8% (2012 est.)
Labor force716,500
note: 44% of the population in the 15-64 age group is non-national (2013 est.)
Unemployment rate15% (2005 est.)
Public debt61.2% of GDP (2013 est.)
54.2% of GDP (2012 est.)
Current account balance$1.907 billion (2013 est.)
$2.221 billion (2012 est.)
Reserves of foreign exchange and gold$5.933 billion (31 December 2013 est.)
$5.211 billion (31 December 2012 est.)
GDP (official exchange rate)$28.36 billion (2013 est.)
Stock of direct foreign investment - at home$17.81 billion (31 December 2013 est.)
$16.83 billion (31 December 2012 est.)
Stock of direct foreign investment - abroad$10.86 billion (31 December 2013 est.)
$9.699 billion (31 December 2012 est.)
Market value of publicly traded shares$16.06 billion (31 December 2012 est.)
$17.15 billion (31 December 2011)
$20.43 billion (31 December 2010 est.)
Commercial bank prime lending rate6.8% (31 December 2013 est.)
6.05% (31 December 2012 est.)
Stock of domestic credit$25.96 billion (31 December 2013 est.)
$22.19 billion (31 December 2012 est.)
Stock of narrow money$7.431 billion (31 December 2013 est.)
$6.944 billion (31 December 2012 est.)
Stock of broad money$23.93 billion (31 December 2013 est.)
$22.51 billion (31 December 2012 est.)
Taxes and other revenues28.7% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-3.8% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 39.8%
government consumption: 15.6%
investment in fixed capital: 20.7%
investment in inventories: 0.8%
exports of goods and services: 74.8%
imports of goods and services: -51.7%
(2013 est.)
Gross national saving27.6% of GDP (2013 est.)
27.6% of GDP (2012 est.)
27.5% of GDP (2011 est.)